Royal Caribbean Cruises (NYSE:RCL) Given New $330.00 Price Target at Tigress Financial

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Tigress Financial from $270.00 to $330.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Mizuho reiterated an “outperform” rating and issued a $253.00 price objective (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Bank of America lifted their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Macquarie upped their price objective on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $284.12.

Royal Caribbean Cruises Trading Down 2.2 %

Shares of Royal Caribbean Cruises stock opened at $264.39 on Friday. The firm’s 50 day moving average is $242.24 and its 200 day moving average is $204.62. The firm has a market capitalization of $71.09 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.00 and a beta of 2.59. Royal Caribbean Cruises has a 1 year low of $113.10 and a 1 year high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Equities research analysts forecast that Royal Caribbean Cruises will post 14.96 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were paid a $0.55 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.83%. Royal Caribbean Cruises’s payout ratio is 20.58%.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the sale, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 372,609 shares of company stock valued at $87,647,208. Company insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently modified their holdings of the company. Prosperity Financial Group Inc. grew its position in shares of Royal Caribbean Cruises by 20.3% during the 4th quarter. Prosperity Financial Group Inc. now owns 6,864 shares of the company’s stock valued at $1,583,000 after purchasing an additional 1,157 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Royal Caribbean Cruises by 7.1% in the 4th quarter. Wealthfront Advisers LLC now owns 30,214 shares of the company’s stock valued at $6,970,000 after acquiring an additional 1,992 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $415,000. Dearborn Partners LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter valued at approximately $231,000. Finally, Independent Advisor Alliance grew its position in Royal Caribbean Cruises by 20.7% in the fourth quarter. Independent Advisor Alliance now owns 6,267 shares of the company’s stock worth $1,446,000 after acquiring an additional 1,073 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.